Expert Legal Services for International Businesses, you may have experience negotiating with Japanese corporations if your investment project is in Japan. What did you think of it?
Even though you might have thought it was finished, the Japanese company ultimately refused to sign the contract. Are you hesitant to collaborate with Japanese businesses?
I think it’s excellent to collaborate with Japanese businesses because, if you start your firm with them, you can have a long-term commercial relationship. How to establish a commercial relationship with Japanese corporations is the issue, though.
When negotiating with Japanese companies, there are a few things to keep in mind.
Japanese businesses have a propensity to “report” information internally as much as possible. The majority of attendees at regular meetings lack the authority to choose the subjects of negotiations. They will inform their employer about it. The supervisor will then inform the board of directors. They might then reply to you with their thoughts on the negotiation.
The problem is this. There is a notation for business in Japan. That is Japanese for “hokoku,” “renraku,” and “sodan,” which means “reporting,” “communication,” and consultation. Because internal corporate consultation is always important, they enjoy talking about business-related topics.
Obviously, it helps to advance the negotiation if you can meet with the firm president. If you don’t have that choice, it’s fantastic to sign a Memorandum of Understanding with the president of a Japanese company.
They will go through a very drawn-out internal process to sign the documents if the president signs the MOU. One employee serves as the initial person in charge. Then, it will receive boss approval. It will then be given to executive officers.
In typically, MOUs just require the corporation to maintain confidentially or engage in exclusive negotiations. Therefore, the board of directors will not approve it.
MOUs are so required. Traditional Japanese businesses, however, lack the human resources needed to handle international trade in general. It takes longer for the Japanese corporation to approve your deal if you just speak English when you bargain with them.
It will be much easier to negotiate with them if your business employs Japanese speakers. But things get incredibly difficult if there aren’t any Japanese speakers around.
Additionally, some of you might be concerned about the MOU’s legal ramifications. However, you need to have more options to handle it if the person is not a lawyer.
Due to the lack of experienced foreign lawyers in Japan, hiring a Japanese international legal firm will be expensive in the meantime. The majority of them don’t often work for corporations, hence they lack business experience.
For your international business in Japan, Hattori Law offers necessary commercial legal services. Lawyer Shingo Hattori holds admissions in both Japan and New York, USA. He was employed by the venerable Japanese corporation Fujita Corporation. There, he was in charge of the foreign business. He is aware of how Japanese businesses approach negotiations and endeavor to serve their customers.
In light of every stage of your international business in Japan, we are delighted to assist you.
Please don’t hesitate to get in touch with us.
Contact Hattori Law at https://www.hrtlawfirm.com/contact-us/
Tokyo, Japan (106-0032), Level 8, Tri-Seven Roppongi, 7-7-7, Roppongi, Minato-ku, Telephone: +81-3-6629-3520